Kevin Hilbiber
A
thread 1/3
Buybacks come down to the company using its cash not to invest in research or workers but to buy back its own stock, and this makes shareholders richer because the value of their stock rises. This is, of course, state-permitted stock manipulation. The upshot?
08:57 PM - Apr 27, 2024
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Kevin Hilbiber
A
thread 2/3
Because shareholder greed knows no limit, the executives of a company (who are also shareholders) are forced into the vicious cycle of raising the cash buybacks demand. And a bunch of this needed cash is tied up in wages. The link between the buybacks and the layoffs is here established.
08:57 PM - Apr 27, 2024
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Kevin Hilbiber
A
thread 3/3
Boeing was caught in this vicious cycle when its planes started falling out of the sky."
08:57 PM - Apr 27, 2024
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